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Today on Nov 20 2011,Indian rupee was a too record low on strong dollar demand from local importers, That cause worries with the foreign investors as they flee from riskier assets and markets due to the global economic turbulence also weighing. The Reserve Bank of India (RBI) sold dollars early in the morning 51.79 per dollar, but the selling pressure on the rupee was too high and leads to 52.16(Oh My God).
Main Points:
Planning Commission Deputy Chairman Montek Singh Ahluwalia said in an interview to CNBC TV 18:
"Globally, people are downgrading growth rates and we have also been affected," Ahluwalia said while pointing out that Prime Minister Manmohan Singh, during his recent visit to Indonesia, had projected growth to be around 7.5 per cent.
Reason Behind Low Indian Rupee in International Market:
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Today on Nov 20 2011,Indian rupee was a too record low on strong dollar demand from local importers, That cause worries with the foreign investors as they flee from riskier assets and markets due to the global economic turbulence also weighing. The Reserve Bank of India (RBI) sold dollars early in the morning 51.79 per dollar, but the selling pressure on the rupee was too high and leads to 52.16(Oh My God).
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| Rupee Vs Dollor Click to know More... |
Main Points:
- During the whole day, the rupee had dipped from 51.13 to 52.16 -- The weakest since March 3, 2009 -- and just shy of its record low of 52.20 hit on the same day. :(
- Declined in rupee nearly 16 percent from its peak in 2011 this is one of the worst performers among major Asian currencies.
- The depreciation of the Indian currency comes at a time when the inflation on its Ghost Role at 9 per cent-mark past 11 consecutive months.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said in an interview to CNBC TV 18:
- "Globally, people are downgrading growth rates and we have also been affected," Ahluwalia said while pointing out that Prime Minister Manmohan Singh, during his recent visit to Indonesia, had projected growth to be around 7.5 per cent.
Shri. Montek hopes for the Rupee that is stabilize soon
- Read From : Original Source
- he also told that Indian rupee would regain its value soon.
"Globally, people are downgrading growth rates and we have also been affected," Ahluwalia said while pointing out that Prime Minister Manmohan Singh, during his recent visit to Indonesia, had projected growth to be around 7.5 per cent.
Due to Such Statement we Lead to Our Downfall as per My Source.
Reason Behind Low Indian Rupee in International Market:
A weaker rupee is a matter of concern for India is bcoz as our imports for over 70 per cent of its oil and gas requirements and the depreciation of the local currency has made imports more expensive.
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